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Rate of Refund and Grant Refund Formulae
Rate of Refund
For courses starting up to 08th August 2018, the rate of refund will be based on employer's tax rate as detailed below:
|
EMPLOYER’S TAX RATE |
HRDC RATE OF REFUND |
|
15% |
60% |
|
0% |
75% |
|
ANNUAL LEVY PAID FOR PREVIOUS FINANCIAL YEAR |
HRDC RATE OF REFUND |
|
(i) Up to Rs 20,000 |
75% |
|
(ii) Above Rs 20,000 and up to Rs100,000 |
75% |
|
(iii) Above Rs100,000 |
70% |
Grant Refund Formulae per financial year
|
Annual Levy paid for previous financial year (1%) |
Maximum grant refund for current financial year |
|
(1) Levy contribution of Rs 15,000 |
Rs 225,000 |
|
(2) Levy contribution of Rs 50,000 |
Rs 400,000 |
|
(3) Levy contribution of Rs 500,000 |
Rs 1,200,000 |
|
(4) Levy contribution of Rs 1,500,000 |
Rs 3,200,000 |
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